1. Directly above 0.7000 sits two H4 Quasimodo resistances at 0.7059 and 0.7035.
2. 0.7035, the lower of the two Quasimodo levels happens to also be a weekly .
3. The approach seen on the H4 is very close to completing a near-perfect H4 alternate (0.7039).
4. In between also sits mid-level resistance 0.7050.
Due to the collection of structures forming here, our team is going to place a pending sell order at 0.7034, with a stop at 0.7066 (above the upper Quasimodo high). Yes, this is a rather large stop, but considering that this setup contains weekly resistance, the move from here could be quite substantial.
Levels to watch/live orders:
• Buys: Flat (Stop loss: N/A).
• Sells: 0.7034 Pending order (Stop loss: 0.7066).